Muthoot Finance Ltd
|Traded as||BSE: 533398
BSE SENSEX Constituent
|Founded||Kerala, India 1939|
|Key people||M G George Muthoot (Chairman)
George Alexander Muthoot (MD)
George Jacob Muthoot (Joint Managing Director)
George Thomas Muthoot (Joint Managing Director))
Muthoot Finance Ltd. is an Indian financial corporation. It is known as the largest gold financing company in the world. In addition to financing gold transactions, the company offers foreign exchange services, money transfers, wealth management services, travel and tourism services, and sells gold coins at Muthoot Finance Branches. The company's headquarters are located in Kerala, India, and operates over 4,400 branches throughout the country. Outside India, Muthoot Finance is established in the UK, US, and United Arab Emirates. While the company falls under the brand umbrella of the Muthoot Group, its stocks are listed on BSE and NSE. As of March 2012[update], revenue (after expenditure) stood at more than Rs. 23,000 crore ($4.2 bln). The target market of Muthoot Finance includes small businesses, vendors, farmers, traders, SME business owners, and salaried individuals.
Muthoot Finance was founded by M George Muthoot in 1939. The company has been licensed by Reserve Bank of India under Section 45 I(a) of the RBI Act, 1934 to function as a Non-banking financial company(NBFC) without accepting public deposits and is specifically exempted from the provisions of the Money Lenders Act in Karnataka and other states. The company's gold loan business constitutes more than 99 percent of its total income. As of 30 September 2012[update], its retail loan assets stand at Rs. 23,763 Crs. As of 31 March 2012[update], the total number of shares of Muthoot Finance held by Individuals/Hindu Undivided Family stood at 80.12 percent and the public shareholdings from Mutual Funds/UTI totaled 3.52 percent.
Awards and recognition
- Muthoot Finance won the coveted Skoch Financial Inclusion Award 2013 in recognition of its major initiative in the area of 'Access to Banking and Financial Services' to the aam aadmi who had been excluded from the country's banking network for decades.
- In 2012, The company won the Asian Sustainability Leadership Award for “Best Rural Outreach.
- BFSI Award for the “Most Admired Loyalty Program" in 2012 at The Asian Leadership Awards heald at Dubai.
- Golden Peacock Award for CSR being conferred upon Muthoot Finance Ltd. in the Financial Services sector at the 7th International Conference on SOCIAL RESPONSIBILITY at the Dubai Global Convention 2012
- In 2013 company won the Golden Peacock Award ‘HR Excellence for 2013’, which recognizes the continuing commitment by business to conduct itself ethically and contribute to economic development, while improving the quality of life of the workforce.
All of the philanthropic activities of Muthoot Finance are conducted through the Muthoot M George Foundation, which also conducts tree plantation drives and offers scholarships to the needy on a regular basis. The company is also involved in various philanthropic initiatives, which focus on education through M George Foundation, environment, health, financial assistance and eco-friendliness. With the assistance of the Credai Clean City Movement, the company is associated with the concept of an E-toilet, which was a public sanitation initiative. Additionally, the company holds regular agricultural seminars by the name of "Ente Adukkalathottum" ("My Kitchen Garden") which educates farmers on the effects of pesticide residues in food and how to counter that for healthier living. It has also been actively involved in helping cancer patients, as well as individuals diagnosed with from kidney diseases, by financially covering medical expenses.
The company runs the Kochi Chapter of the "Horn Not Ok Please" initiative, which raises awareness on the harmful effects of vehicular noise pollution. The company has also launched a Centre for Promoting/Creating Road Traffic Awareness at the office of the Asst. Commissioner of Police in Kochi to help raise awareness about road safety and the prevention of traffic accidents.
In 2012, the Muthoot Group launched the first Paul George Memorial Tournament, which was aimed at Government School Children in the Delhi NCR region. The winners of the tournament were given scholarships.
- PTI Feb 17, 2009, 10.41pm IST (2009-02-17). "Muthoot Group to hire 3,000 employees each in next 4 years - Economic Times". Economictimes.indiatimes.com. Retrieved 2013-01-31.
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- "National News | World News | Headlines | Business News | Entertainment | Sports | Politics | Education". indiainteracts.in. Retrieved 2013-01-31.
- "Annual Report FY12". Muthootfinance.com. Retrieved 2013-01-31.
- "Muthoot Finance to enter capital market through IPO route - Economic Times". Articles.economictimes.indiatimes.com. 2011-04-16. Retrieved 2013-01-31.
- "NBFCs, to whom Certificates under Section 45 IA of RBI Act, 1934 have been issued by the Reserve Bank of India". RBI.com. Retrieved 2003-01-22.
- "Muthoot Finance share holding | Muthoot Finance Ltd Latest Shareholding Pattern". Economictimes.indiatimes.com. Retrieved 2013-01-31.
- "BSE Shareholding". Muthootfinance.com. Retrieved 2013-01-31.
- "Muthoot Finance, the flagship company of Muthoot Group, won the coveted Skoch Financial Inclusion Award". HT Syndication.
- "Muthoot Finance, the flagship company of Muthoot Group, won the coveted Skoch Financial Inclusion Award". Times of India.
- "Muthoot Finance, Asian sustainability award". Award Website.
- "Muthoot Finance, bags award for rural outreach". The Hindu.
- "Muthoot Finance, bags 2 prestigious awards". Rupee Times.
- "Muthoot Finance receives Golden Peacock Award for CSR". India Infoline.
- "Muthoot Finance bags Golden Peacock Award for 'HR Excellence". Money Works4me.
- "Muthoot Finance wins HR excellence award". Business Standard.
- "Grow Trees NGO Testimonials". Grow Trees.
- "Muthoot Foundation to award scholarships". Business Standard. 2010-11-24. Retrieved 2014-01-25.
- "Muthoot M George Foundation announced the launch of Muthoot M George Excellence Scholarships". Business Standard.
- "Muthoot Finance CSR profile". CSR Identity.
- "NATIONAL / KERALA : e-toilet opened in Children's Park". The Hindu. 2012-02-05. Retrieved 2013-01-31.
- "NATIONAL / KERALA : Muthoot M George Foundation". NGO. Retrieved 2014-01-25.
- "NATIONAL / KERALA : Horn Not OK Please', a poster designing competition". The Hindu. 2012-02-05. Retrieved 2013-01-31.
- "Poster designing". thehindu.com. Retrieved 2013-02-02.
- "In Kochi, Horn Not OK Please". kochivibe.com. Retrieved 2013-02-02.
- "NATIONAL / DELHI: Sehwag inaugurates Paul George Memorial Tournament". Zee News. 2013-10-14. Retrieved 2014-01-25.
- "T20 cricket tournament for government school students | Cricket - News | NDTVSports.com". Sports.ndtv.com. 2012-10-19. Retrieved 2013-01-31.
- Official website
- Muthoot Finance at Bombay Stock Exchange
- Muthoot Finance at National Stock Exchange of India